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IndusInd Bank
BSE: 532187|NSE: INDUSINDBK|ISIN: INE095A01012|SECTOR: Banks - Private Sector
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Company History - IndusInd Bank
1994 
 
 - The bank was incorporated on January and obtained Certificate of
 Commencement of Business in February 1994.  The bank was promoted by
 IndusInd Enterprises and Finance Ltd. (IEFL) and five Mauritius based
 companies viz. IndusInd International Holdings Ltd. (IIHL) IndusInd
 (Mauritius) Holdings Ltd. (IMHL) IndusInd Ltd. (IL) IndusInd
 Investments Ltd. (IIL) DeFive Mauritius Holdings Ltd. (DFMHL).  The 
 bank commenced commercial operation in April.  It undertook all kinds
 of banking business.
 
 - The bank proposed to set up an investment bank as a subidiary of
 the bank for concentrating on various faces of investment banking
 viz. issue management, corporate advisory service, infrastructure
 financing, mergers and acquisitions, trading and depository services
 etc.  It was
 also proposed to introd uce the concept of investment boutique at
 selected branches viz. Ahmedabad, Chennai, Mumbai etc.
 
 - All operating outlets have direct access to Nostro Accounts through
 sophisticated computerised system SWIFT.
  
 1995 
 
 - 1200,00,000 No. of Equity shares issued.
 
 - The Company joined hands with Kredietbank NV, (KB) - Brussels,
 Belgium and a Memorandum of Understanding for strategic alliance has
 been signed with them in order to enhance capability to global
 standards.
  
 - The Bank has made a preferential offer of 2 crores equity shares of
 Rs. 10 each for cash at a premium of Rs. 40 per share aggregating Rs.
 100 crores on private placement basis to the shareholders of the
 Bank, (other than promoters), shareholders of the promoter companies,
 and the employees of the Bank and of the promoter companies.  
 
 1996 
 
 - The Bank has a state-of-the-art dealing room at Nariman Point,
 Mumbai, catering to several additional positions of dealers and
 corporate analysts aimed at further enhancing the profitability of
 its investments.
 
 - The bank caters to the needs of NRI customers from 40 countries
 with deposits totalling Rs 905 crores.
 
 - 9 branches were added to the network and the number of branches
 doubled to 18.
 
 1997 
 
 - The company issued 400,00,000 No. of equity shares of Rs 10 each
 for cash at a premium of Rs 35 per share to the public.
 
 - The Company has successfully launched the 'anywhere banking'
 concept and bank's customers can look at it as 'one Bank'.
 
 - IndusInd Bank has launched Fast Forex to wipe out delays in sending
 and receiving funds to and from foreign centres.  Fast Forex is an
 international remittance product utilising the 24-hour processing and
 communication capabilities of SBC Warburg, the bank's USD clearing
 agent, through their electronic banking system Keylink.
 
 - The bank's shares were admitted for dematerialisation under a
 tripartite agreement signed by the bank, its registrars, Spectrum
 Corporate Services, and NSDL.
 
 1998 
 
 - IndusInd Bank Ltd has launched its Banking on the Net service on
 March 24.  This facility will serve as an alternate delivery channel
 that IndusInd Bank offers its customers in addition of branch
 banking, on-line ATM's and tele-banking.  The customer can access
 Internet access Internet banking facilities not only through the Net
 but also through dial-up access on a common browser platform.
 
 - IndusInd Bank, has launched its new product, Fast Forex, which can
 remit funds to any part of the world at the fastest possible speed. 
 
 - Bank has introduced net bank a product offering on the internet and
 the site can be visited on www.indusind.com by any customer who can
 register for this service.
 
 1999
 
 - The Bank has entered into an agreement with National Securities
 Clearing Corporation Ltd. of National Stock Exchange (NSE) whereby
 the Bank will act as official banker to NSE.
 
 - The private sector bank has also introduced a number of
 technologically superior products--like fast forex, anywhere banking,
 Internet banking and depository services--through the electronic
 delivery channels.
 
 2000
 
 - IndusInd Bank signed a memorandum of understanding (MoU) with HSBC
 for issuing global credit card under the MasterCard franchise to its
 customers.
 
 - IndusInd Bank Limited has launched its exclusive international
 remittance system-FAST (Fully Automated Straight Through) Forex. 
 
 - IndusInd Bank has appointed Tata Consultancy Services for
 implementation of the asset-liability management (ALM) plan of the
 bank.
 
 - The Bank has tied up with the cellular company, Orange, for short
 messaging service facilities for mobile banking in Mumbai. 
 
 - The Bank has signed an agreement with Financial Software and
 Systems for acquisition of the BASE24-ATM switch. 
 
 - The Bank has opened its 28th Branch in Surat, Gujarat.
  
 - The Bank has launched its global credit card, to be issued in
 association with the HongKong and Shanghai Banking Corporation Ltd.
 under the Mastercard franchise.
 
 - IndusInd Bank has launched an e-broking platform, eTrading, at its
 Mumbai main branch to facilitate online trading of equity shares.
 
 - Kothari Pioneer Mutual Fund and IndusInd Bank have joined hands to
 enter into an alliance.
 
 2001 
 
 - The Bank has entered into a strategic alliance with Sri Lanka-based
 National Mercantile Bank.
 
 2002
 
 - IndusInd Bank Ltd has informed that the Board of Directors have
 appointed Mr S Venkitramanan as Additional Director and Non-executive
 Chairman subject to approval of Reserve Bank of India.
 
 2003
 
 -IndusInd Bank gets RBI permission to set up offices abroad.
 
 -Bank secures ISO 9001:2000 certification for all its branches in the
 10th year of its  operations.
 
 -IndusInd hires KPMG Consulting for assisting the bank to develop an
 enterprise wide risk management framework to cover risks across all
 function streams.
 
 -Shareholders approved delisting of shares from Pune Stock Exchange
 
 -IndusInd, Corp Bank sign agreement for sharing of ATMs
 
 -IndusInd Bank Board approves scheme of merger of Ashok Leyland
 Finance.
 
 2004
 
 -IndusInd Bank Ltd has informed that the Bank has received approval
 for delisting of its shares from Pune Stock Exchange (PSE) with
 effect from January 16, 2004.
 
 -IndusInd Bank on April 30 launched Indus AIM (anywhere instant
 money) for inter-bank real time gross settlement (RTGS)
 transactions.
 
 -IndusInd Bank Ltd has accepted the resignation of Mr. Gopal Lohiya,
 Company Secretary of the Bank with effect from July 5, 2004
 
 -Nagarajan selected as IndusInd Joint MD
 
 -IndusInd Bank has offered personal loans for the salary account
 holders at Global Trust Bank (GTB)
 
 -IndusInd Bank inks pact with DDA
 
 2005
 
 -IndusInd Bank opens its 11th branch in Gujarat at Bhavnagar
 
 -Morvi Royal Family launches Indusind International Mahila Card in
 Gujarat
 
 -IndusInd Bank sets up new branch at Malappuram
 
 -Indusind Bank opens Branch at Trichy
 
 -Indusind Bank opens branch at Allahabad
 
 -Indusind Bank introduces new services for retail customers
 
 2006
 
 -Indusind Bank Ltd has announced that Doha Bank, Qatar and the Bank,
 India announced their strategic alliance in Doha
 
 -IndusInd joins hand with 2 Gulf banks
 
 - Indusind Bank Ltd has informed that the Board of Directors of the
 Bank at its meeting held on October 31, 2006 has appointed Mr Ajay
 Hinduja and Mr Premchand Godha as Additional Directors of the Bank,
 subject to the approval of Reserve Bank of India.
 
 2007
 
 -On January 16, 2007 Aviva Life Insurance and Indusind Bank Ltd has
 announced their tie-up as Bancassurance partners.
 
 - Indusind Bank Ltd has appointed Mr. R Seshasayee has been
 appointed, with the approval of Reserve Bank of India, Part-time
 Non-Executive Chairman of the Bank for a period of two years.
 
 -Indusind Bank Ltd has appointed Mr. R Seshasayee as the
 Non-Executive Chairman for a period of two years.
 
 -Indusind Bank opens its 19th branch in Tamil Nadu at Sivakasi.
 
 -Cholamandalam MS enters into a strategic partnership with IndusInd
 Bank
 
 2008
 
 - Indusind Bank Ltd has tied up with TVS Motors
 
 -IndusInd Bank signs Rs 150-cr deal with SKS Micro
 
 -IndusInd Bank signs co-partner agreement with World Gold Council
 
 2009
 
 -lndusind Bank launches new look branch model at Bandra
 
 -IndusInd Bank signs MoU with ICRA
 
 -IndusInd Bank inaugurates its first Solar-powered ATM in Mumbai
 
 -Indusind Bank Ties Up With Maruti Suzuki India Ltd
 
 2010
 
 -IndusInd Bank ties-up with Tata Motors for dealer financing
 
 -Indus Bank ties up with Toyota Kirloskar Motor
 
 -IndusInd Bank ties-up with Ashok Leyland for Channel Financing
 
 -Indusind Bank ties up with Unistream Bank for Remittances
 
 2011
 
 -Mahindra's Automotive Sector ties up with Indusind Bank for vehicle
 finance.
 
 -IndusInd Bank bags the IBA award for 'Best use of technology in
 E-learning - 2010
 
 -IndusInd Bank awarded the ‘Most Improved Bank Performance of the
 Year'.
 
 -IndusInd Bank enters into an agreement with  Deutsche Bank to
 acquire its credit card business in India.
 
 -Indusind Bank partners with Finacle from Infosys for its core
 banking transformation.
 
 -Indusind Bank signs an MoU with HDFC Ltd for home loans
 
 2012
 
 -Indusind Bank opens it's first Currency Chest in Mumbai.
 
 -Suzuki Motorcycle partners with IndusInd Bank to offer retail
 customer finance
 
 -IndusInd Bank introduces new foreign currency pre-paid travel card
 
Source : Dion Global Solutions Limited
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